Syndax Pharmaceuticals (NASDAQ:SNDX) Upgraded by StockNews.com to Sell Rating

StockNews.com upgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX) to a sell rating in a report published on Thursday.

A number of other equities analysts also recently commented on the stock. Scotiabank reduced their target price on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price target on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Citigroup lowered their price objective on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Finally, HC Wainwright restated a “buy” rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Syndax Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $36.20.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock opened at $10.52 on Thursday. The business has a 50 day simple moving average of $13.73 and a two-hundred day simple moving average of $15.38. The stock has a market capitalization of $905.18 million, a P/E ratio of -2.90 and a beta of 1.28. Syndax Pharmaceuticals has a 12 month low of $9.66 and a 12 month high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.79). The firm had revenue of $7.68 million during the quarter, compared to analyst estimates of $86.32 million. As a group, research analysts anticipate that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Insider Transactions at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 13,288 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $205,964.00. Following the transaction, the chief executive officer now directly owns 300,121 shares of the company’s stock, valued at approximately $4,651,875.50. This trade represents a 4.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Neil Gallagher sold 4,618 shares of Syndax Pharmaceuticals stock in a transaction on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $71,579.00. Following the completion of the transaction, the insider now owns 85,095 shares in the company, valued at approximately $1,318,972.50. This trade represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,683 shares of company stock worth $336,087. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. State Street Corp increased its holdings in shares of Syndax Pharmaceuticals by 4.1% in the 3rd quarter. State Street Corp now owns 3,770,826 shares of the company’s stock valued at $72,588,000 after purchasing an additional 148,491 shares in the last quarter. Soleus Capital Management L.P. increased its holdings in Syndax Pharmaceuticals by 128.4% in the fourth quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock valued at $32,944,000 after buying an additional 1,401,016 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Syndax Pharmaceuticals by 343.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company’s stock valued at $27,292,000 after acquiring an additional 1,598,428 shares during the period. Geode Capital Management LLC boosted its stake in shares of Syndax Pharmaceuticals by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock worth $38,066,000 after acquiring an additional 66,459 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Syndax Pharmaceuticals by 13.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock worth $34,948,000 after acquiring an additional 208,043 shares during the period.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).